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pickupchik [31]
2 years ago
8

Explain what debit and credit mean.

Business
1 answer:
xeze [42]2 years ago
6 0

Debits and credits are used in a company’s bookkeeping or or double-entry accounting.

Debits and credits are the bookkeeping entries that balance each other. Debits means all of the money coming into an account, while credits means all of the money going out of an account. When recording a transaction, every debit entry must have a corresponding credit entry of the same amount.

A debit entry is always kept on the left side of an entry. A debit increase asset or expense accounts, and decreases liability, revenue or equity accounts.A credit is always placed on the right side of an entry. It increases liability, revenue or equity accounts and decreases asset or expense accounts.

To learn more about Debits and credits here

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krok68 [10]
It's C because 1-.15 is .85 then 1/.85 rounds to 1.18
5 0
3 years ago
Atlas Hardware buys power tools with a list price of $25,500. If the supplier offers trade discounts of 10/20/5, find the trade
ladessa [460]

Answer:

$8058

Explanation:

10/20/5 stands for a series of discount rates applicable on the list price. It means on total amount, 10% discount is allowed, then post deduction of this 10%, a further 20% on the balance is allowed and then a further 5% is allowed on the balance.

In the given case, single equivalent discount would be calculated as follows,

$25,500 × 10% = $2550

Then, ($25,500 - 2550) × 20%= $4590

Then, ($25,500 - 2550 - 4590) × 5% = $918

Single equivalent discount amount = $2550 + 4590 + 918 = $8058

4 0
3 years ago
Anna is 88 years old and under the legal guardianship of her daughter. One day Anna receives a telephone call from a health insu
Nutka1998 [239]

Answer:

Anna is 88 years old and under the legal guardianship of her daughter. One day Anna receives a telephone call from a health insurance salesman and purchases a $400 a month insurance policy. This contract is VOID.

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A contract can be classified as null by different factors, to define it more precisely, there are two types of nullity in a contract, there is Absolute Nullity and Relative Nullity.

7 0
3 years ago
Individuals who focus only on their own interests when making decisions are at the ________ stage of ethical development.
Stels [109]
The answer would be, pre-conventional.
6 0
3 years ago
While pollution regulations yield the benefit of a cleaner environment and the improved health that comes with it, the regulatio
masha68 [24]

Answer:

a. people face tradeoffs.

Explanation:

Tradeoffs means sacrificing something in order to achieve another thing.

Firms are sacrificing some of their profits in order to have an healthier and cleaner environment.

I hope my answer helps you

5 0
3 years ago
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